Month: April 2020

General Electric on Wednesday reported a steep decline in first-quarter revenue as the industrial giant took a hit from the coronavirus pandemic.

The company posted revenue of $20.524 billion, which represents a year-over-year decline of 8%. On an adjusted per-share basis, the company earned 5 cents. That was below a Refinitiv estimate of 8 cents per share. GE also suffered a $1 billion blow to its cash flow during the quarter.

“The impact from COVID-19 materially challenged our first-quarter results, especially in Aviation, where we saw a dramatic decline in commercial aerospace as the virus spread globally in March,” CEO

Invitae acquire Clear Genetics for $50 Million

U.S medical genetics company Invitae Corporation today announced that it has entered into a definitive agreement to acquire Clear Genetics, founded by Israelis Moran and Guy Snir, for $50 million.

Under the definitive agreement, Invitae will acquire Clear Genetics for aggregate consideration of approximately $50 million, approximately $25 million in cash and the remainder in shares of Invitae common stock.

Southeast Asia’s largest bank, DBS, on Thursday said it set aside 1.09 billion Singapore dollars ($772.5 million) to cover potential losses from the coronavirus pandemic — which resulted in a 29% year-over-year fall in net profit in the first quarter.

The Singaporean bank’s net profit fell to 1.17 billion Singapore dollars ($829.2 million) in January-March this year, down from 1.65 billion Singapore dollars ($1.17 billion) in the same period last year.

Unlike many banks around the world which have held back dividend payouts, DBS said

In the last decade, we have seen how countries around the world have tried to articulate large technological hubs that attract millions of euros in investment and jobs. The idea, to create a ‘hub’ that could be baptized as the ‘Silicon Valley’, although it was far from being considered as the great capital of world innovation. In the case of Switzerland, these efforts crystallized in what came to be called Crypto Valley, a kind of private institution, straddling the ‘lobby’ and the professional guild, which was born a few years ago to turn that country

COVID-19, or novel coronavirus, has overwhelmed most hospitals and treatment centers around the country. Now, one family is taking issue with a hospital’s negligence that led to the untimely death of their loved one who, they say, was denied testing.

Deborah Gatewood was a Michigan healthcare worker who recently died from coronavirus after being refused a test four different times at the Beaumont Hospital, Farmington Hills, where she worked for over 30 years.

Her daughter, Kaila Corrothers, told NBC News that the thing that bothered her the most about the entire situation was that her employer, Beaumont Hospital,

With the UK in lockdown until at least the end of the first week of May, and rumours that social distancing will need to be in place for the rest of the year, it’s difficult to know how the property market will be affected.

Prior to the outbreak of COVID-19, the UK property market was looking strong. Boris Johnson’s resounding victory in the December election is reported to have increased buyer appetite, and confidence in the London market was higher than ever. However, with the handbrake firmly on, how is the market expected to perform in 2020, and what does